China Medical System Holdings Ltd (CMS, HKG: 0867) has announced that its joint venture, PharmaGend Global Medical Services Pte., Ltd (PharmaGend), has entered into a lease agreement with Strides Pharma Global Pte., Ltd for a manufacturing facility in Singapore, which includes the acquisition of certain production machinery and equipment. This strategic move expands CMS’s supply chain and production capabilities into Southeast Asia, positioning the company to collaborate with global partners in the future.
The Singapore facility, already approved by the Health Sciences Authority of Singapore (HSA), the US FDA, and Australia’s Therapeutic Goods Administration (TGA), will enable PharmaGend to conduct pharmaceutical formulation, finishing, and packaging operations as part of its formulation Contract Development and Manufacturing Organization (CDMO) services. PharmaGend’s ownership structure includes 33.8% by CMS, 11.2% by Rxilient Health (a non-wholly-owned CMS subsidiary), 35% by China-based CRO Pharmaron, and 20% by Legend Fund.- Flcube.com
